Since his inauguration, U.S. President Donald Trump has spent many weekends at his farm in Bedminster, New Jersey. That's not a typo -- or fake news. For state tax purposes, the Trump National Golf Club in Bedminster is considered farmland. It has 113 acres dedicated to hay production, as well as a small herd of eight goats. At Trump’s nearby Colts Neck golf course, 40 acres are reserved for growing hay and there are stands of trees that can be used for lumber production. In New Jersey, agricultural activities on properties like Trump's golf courses can result in hefty property tax reductions.
Wake up and smell the hay:
- The Wall Street Journal estimates that Trump pays less than $1,000 USD in annual New Jersey taxes -- instead of the $80,000 USD he would pay without the tax breaks.
- New Jersey's Farmland Assessment Act of 1964 allows tax exemptions of as much as 98 percent for landowners who dedicate at least five acres to agricultural endeavors.
- The president owns 19 golf courses around the world, including courses in Florida, California, Scotland, and Dubai.